Power of Government to declare certain transactions void

Power of Government to declare certain transactions void.--

1. (1) The Government may declare void any transaction in connection with which a member has been removed under sub-clause (iii) of clause (e) of sub-section (1) of section 6 after considering the report on the facts of the case made to it by Authority or Commission as may be nominated by the Government in this behalf.
2. (2) The Authority or the Commission nominated under sub-section (1) shall, before making his report under that sub-section to the Government in relation to any transaction, give all parties interested in the transaction, reasonable opportunity of being heard.
3. (3) Where a transaction is declared void under this section, it shall not be enforceable by any party to the transaction but the provisions of section 65 of the Contract Act, 1977 shall, so far as may be, apply to such transaction as they apply to an agreement which is discovered to be void or a contract which becomes void.
4. (4) The decision of the Government declaring any transaction void under this section shall be final and shall not be called in question in any Court.